Continues to trade in a narrow consolidative range after losses from 81.05, 15 June high, found support at 80.00, psychological support. Near-term studies keep the downside favored, while 80.33/36 highs, limiting the upside. Renewed attempt at 80.00 support increases risk of further weakness and below the latter to open 79.68/55, possibly 79.06, 18 Mar low, on a break.

Res: 80.35, 80.47, 80.92, 81.05
Sup: 80.00, 79.68, 79.55, 79.06

USD/CHF

Near-term structure remains weak after recovery attempt from record low at 0.8325, stalled at initial barrier at 0.8550 and subsequent reversal lost 0.8466/40 handles, to test 0.8400 support. Hourly / 4 hour studies favor further weakness while 0.8450, 20 day MA / yesterday’s high, cap, with loss of 0.8400 to expose 0.8345/25 for retest. Only break above 0.8514 would improve near-term tone, but clearance of 0.8550 is required to confirm and open 0.8600 next.